IN BRIEF: National Grid gets new rate plan for Massachusetts Electric
2nd Oct 2024 09:59
National Grid PLC - London-based electricity infrastructure operator - Massachusetts Department of Public Utilities issues its rate case order for National Grid's Massachusetts Electric, or Meco, business. The order from the government of the north east US state approves a new five-year plan with new rates that Meco can charge customers from Tuesday. The plan represents a USD79.6 million revenue increase, National Grid says. Enhanced cost recovery mechanisms also will allow Meco to earn close to the allowed return on equity of 9.4% on an equity ratio of 53%, the company says. Read More